There was a strong lift in the number of commercial properties listed on Realestate.co.nz last month, with industrial property listings in Auckland and Canterbury leading the way.
There was a particularly strong jump in the number and price of Auckland industrial properties coming to market, with 95 newly listed on Realestate.co.nz last month, which was the highest number since November last year.
The average value (by vendor expectations) was also firm at $3.88 million, which combined with the high number of listings took the total value of new industrial stock coming on to the market last month to $369 million, the second highest value in a single month ever and only surpassed by the $521 million of industrial stock listed in September last year.
Most of the new listings were in Central Auckland ($163 million) and Manukau ($143 million).
Industrial property listings were also up strongly in Canterbury where 33 industrial properties were listed for sale in July, the highest number since November 2013.
Auckland retail property listings were also strong with 63 listed on the website in July, the highest number since October last year.
Canterbury office property listings also showed an improved performance compared with recent months, with 22 new listings for sale in July.
In Wellington the market was largely flat, with new listings of industrial, office and retail properties all virtually unchanged over the last couple of months.
| Commercial Property Listings on Realestate.co.nz February - July 2015 | |||||||||
| Auckland | |||||||||
| Industrial Buildings | Office Buildings | Retail Properties | |||||||
| Avg. Price $ | No. | Total value $ | Avg. Price $ | No. | Total value $ | Avg. Price $ | No. | Total value $ | |
| Feb | 2,536,923 | 93 | 235,933,804 | 1,056,762 | 44 | 46,497,510 | 1,186,324 | 62 | 73,552,081 |
| Mar | 4,094,176 | 83 | 339,816,605 | 2,191,986 | 37 | 81,103,500 | 1,279,242 | 33 | 42,215,000 |
| Apr | 3,557,082 | 86 | 305,909,015 | 3,556,050 | 40 | 142,242,005 | 1,258,170 | 63 | 79,264,721 |
| May | 1,436,639 | 73 | 104,874,650 | 2,845,000 | 31 | 88,195,005 | 1,764,410 | 56 | 98,806,962 |
| Jun | 1,723,044 | 67 | 115,443,960 | 2,772,513 | 38 | 105,355,500 | 1,836,363 | 51 | 93,654,500 |
| Jul | 3,884,318 | 95 | 369,010,165 | 1,644,053 | 41 | 67,406,181 | 1,876,017 | 66 | 123,817,148 |
| Canterbury | |||||||||
| Industrial Buildings | Office Buildings | Retail Properties | |||||||
| Avg. Price | No. | Total value $ | Avg. Price | No. | Total value $ | Avg. Price | No. | Total value $ | |
| Feb | 1,350,688 | 16 | 21,611,000 | 411,556 | 9 | 3,704,000 | 1,208,653 | 18 | 21,755,750 |
| Mar | 909,398 | 22 | 20,006,754 | 1,360,174 | 28 | 38,084,874 | 1,200,000 | 2 | 2,400,000 |
| Apr | 582,483 | 15 | 8,737,250 | 1,560,525 | 8 | 12,484,200 | 726,400 | 5 | 3,632,000 |
| May | 953,199 | 24 | 22,876,766 | 1,311,636 | 11 | 14,428,000 | 294,000 | 5 | 1,470,000 |
| Jun | 718,250 | 12 | 8,619,000 | 3,461,001 | 15 | 51,915,014 | 1,156,106 | 6 | 6,936,636 |
| Jul | 910,156 | 33 | 30,035,163 | 1,287,841 | 22 | 28,332,500 | 725,000 | 3 | 2,175,000 |
| Wellington | |||||||||
| Industrial Buildings | Office Buildings | Retail Properties | |||||||
| Avg. Price | No. | Total value $ | Avg. Price | No. | Total value $ | Avg. Price | No. | Total value $ | |
| Feb | 686,355 | 24 | 16,472,510 | 25,450,005 | 2 | 50,900,010 | 487,692 | 13 | 6,340,000 |
| Mar | 823,000 | 17 | 13,991,000 | 840,000 | 5 | 4,200,000 | 1,398,612 | 9 | 12,587,505 |
| Apr | 1,162,778 | 9 | 10,465,000 | 2,590,625 | 8 | 20,725,000 | 1,050,818 | 11 | 11,559,000 |
| May | 382,273 | 11 | 4,205,000 | 487,544 | 8 | 3,900,350 | 775,715 | 7 | 5,430,005 |
| Jun | 939,286 | 7 | 6,575,005 | 1,133,111 | 9 | 10,198,000 | 619,000 | 5 | 3,095,000 |
| Jul | 1,025,000 | 8 | 8,200,000 | 2,216,813 | 8 | 17,734,500 | 2,001,100 | 5 | 10,005,500 |
This article was first published in The Property Line Quarterly Report which is published by interest.co.nz and sent to subscribers of our regular Property Newsletter. Both the newsletter and the Quarterly Report are free, we do not share subscribers' details with third parties and you can unsubscribe at any time. To subscribe to The Property Newsletter and receive the Quarterly Report and all of interest.co.nz's other property-related stories delivered free to you inbox, enter your details in the subscription box below:
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